Alston & Bird Consumer Finance ABstract

Changes to the Department of Defense’s SCRA Website Database Could Impact Servicers

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Supreme Court

A&B ABstract: Servicers should be aware of changes being made to the Department of Defense’s (“DoD”) Servicemembers Civil Relief Act (“SCRA”) website in response to a complaint that the DoD failed to protect the privacy of servicemembers’ personal information. Discussion The SCRA provides certain financial and legal protections to active duty service members.  Servicers are encouraged to identify and verify eligible populations of active duty servicemembers to ensure they are obtaining the … [Continue reading] about Changes to the Department of Defense’s SCRA Website Database Could Impact Servicers

Maine Enacts Law Protecting Victims of Economic Abuse

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A&B Abstract:  An Act to Provide Relief to Survivors of Economic Abuse (the “Economic Abuse Law”), effective September 19, 2019, is aimed at preventing “economic abuse” by providing certain protections to victims of such abuse, in part, by … [Continue reading] about Maine Enacts Law Protecting Victims of Economic Abuse

Slaying the Monster? Reduced Risk of False Claims Act Prosecution for FHA Lenders

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Residential Mortgage

A&B Abstract:  In an effort to incent large depository institutions to return to FHA lending, the U.S. Department of Housing and Urban Development (“HUD”) and the U.S. Department of Justice (“DOJ”) entered into a Memorandum of Understanding … [Continue reading] about Slaying the Monster? Reduced Risk of False Claims Act Prosecution for FHA Lenders

SHIELD Act Overhauls New York’s Data Breach Notification Framework

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On October 23, 2019, New York’s new breach notification provisions came into effect, a result of New York’s passage of the Stop Hacks and Improve Electronic Data Security Act (SHIELD Act) in July. That Act overhauled New York’s data privacy … [Continue reading] about SHIELD Act Overhauls New York’s Data Breach Notification Framework

Massachusetts Poised to Regulate Student Loan Servicers

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Free Application for Federal Student Aid

A&B ABstract: Amid growing concerns of a student loan crisis, proposed Massachusetts H. 3977 is worth watching. If enacted, it would provide the Division of Banks and the Attorney General additional regulatory and enforcement authority over … [Continue reading] about Massachusetts Poised to Regulate Student Loan Servicers